Items Tagged with 'New York Fed'

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  • Mortgage debt surges in fourth quarter

    But market still showing signs of recovery
    Mortgage debt surged in the fourth quarter of 2017 but remains far from its previous peak level. The report explained that unlike overall debt balances, which surpassed their previous 2008 peak last year, mortgage debt remains 4.4% below its peak level.
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  • Monday Morning Cup of Coffee: Leadership shake-up coming to the NY Fed?

    Plus, NAR kicks off in the Windy City
    Get the latest on leadership changes at the Fed(s). Plus, Financial analyst Gary Shilling says the Fed has to get out of the forecasting business. Also, the National Association of Realtors annual convention is underway in Chicago. What's on their mind? All that, and more, in your Monday Morning Cup of Coffee.
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  • NY Fed president compares Wells Fargo fake account scandal to subprime mortgage crisis

    Dudley: Like subprime crisis, compensation made bankers ignore consequences
    The president of the Federal Reserve Bank of New York told the Banking Standards Board in London on Tuesday that he sees quite a few similarities between the Wells Fargo fake account scandal and the subprime mortgage crisis of the late 2000’s. "Compensation, once again, seems to be at the center of a scandal," NY Fed President William Dudley said in the speech.
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  • Monday Morning Cup of Coffee: Trump U paid AGs? NY Fed Bank heist warning?

    Also, jobs crises may be like housing crash
    Yahoo News broke a story on Sunday revealing that the Federal Reserve Bank of New York — which was the victim of a spectacular $81 million heist in February — actually blocked 35 requests for money transfers, but then approved five of those transfers later. Plus, two attorneys general who dismissed Trump U charges received campaign contributions.
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  • New York Fed chief declares housing economy solid

    But won’t talk interest rates
    Dudley sits on the Federal Open Market Committee, which regularly meets to discuss moving away from ZIRP and the economic conditions necessary to do so without major upheavals in the financial markets. His vote, therefore, either 'yea' or 'nay' carries much weight.
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